Wesbanco Bank Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,256 shares of the network equipment provider’s stock after selling 32,514 shares during the period. Wesbanco Bank Inc.’s holdings in Cisco Systems were worth $10,965,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Stonehearth Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $102,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems in the second quarter valued at $104,000. Manchester Capital Management LLC grew its holdings in shares of Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 350 shares in the last quarter. Ffcm LLC grew its holdings in shares of Cisco Systems by 2,025.0% in the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after purchasing an additional 3,564 shares in the last quarter. Finally, Archford Capital Strategies LLC grew its holdings in shares of Cisco Systems by 35.7% in the second quarter. Archford Capital Strategies LLC now owns 9,513 shares of the network equipment provider’s stock valued at $126,000 after purchasing an additional 2,503 shares in the last quarter. Institutional investors own 77.57% of the company’s stock.
NASDAQ:CSCO opened at $40.73 on Monday. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $46.16. The firm has a market cap of $196,217.52, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s payout ratio is presently 61.40%.
Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently weighed in on the stock. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 target price for the company. in a report on Monday. Royal Bank of Canada reissued a “buy” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Monday, February 12th. Piper Jaffray reissued an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Wednesday, January 10th. BMO Capital Markets raised their target price on shares of Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Finally, Jefferies Group reissued a “buy” rating and issued a $48.00 target price on shares of Cisco Systems in a report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.23.
In related news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the sale, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total value of $940,530.50. The disclosure for this sale can be found here. Insiders sold 46,986 shares of company stock valued at $2,116,422 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
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About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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